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General Points of Interest
ALL DATES ARE TENTATIVE AT THIS TIME
The sale is to begin as a public auction at 9:00 a.m. Eastern Daylight Time, Thursday, October 16, 2008. (Tax Sale instructions will begin at 8:30 a.m. in the Public Assembly Room and will continue until the sale begins at 9:00 a.m.) All times are Eastern Daylight.
On Thursday, October 16, 2008, the sale will run from 9:00 a.m. to noon, followed by a one-hour lunch break; then it will continue from 1:00-4:00 p.m.
It is unlikely that we will be able to offer all available properties for sale on Thursday, October 16, 2008. If that is the situation, the sale will resume at 9:00 a.m. on Friday , October 17, 2008. The number of parcels left to offer for sale on Friday, October 19, 2007 will determine the need to take a lunch break. If Saturday is necessary the sale will resume at 9:00a.m. and continue till all parcels are offered for sale.
On both Thursday, October 16, 2008, and Friday, October 17, 2008 and Saturday if necessary, the sale will be held in the Public Assembly Room (Room 230), 2nd floor of the City-County Building – 200 E. Washington Street, Indianapolis, IN 46204.
The properties remaining unsold at the end of the sale on Friday, October 17, 2008 or Saturday, October 18, 2008, will again be offered on Friday, January 16, 2009, at 9:00 a.m. EDT in Room 260 of the City County Building.
If a parcel is not sold on October 16, 17, 2008 or January 16, 2009, it will not be offered for sale again.
The "parcel number" identifies a property. There may be an owner and/or address advertised and/or read at the sale, but the parcel number identifies the exact property offered for sale.
Parcels will be offered for sale in Item Number sequence, as identified in newspaper ads. This means that "A" items (item numbers starting with A) will be offered first, followed by "C" items.
At the sale, parcels beginning with "A" will be offered in groups of 25 items at a time, such as items A1 through A25 ( paper will list the county code in front of the item number). Any bidder may call out an item number within that range. A call for a specific item number such as A17 is considered a minimum bid for that item. Once the minimum bid is made, that item is auctioned to the highest bidder. If the item called for is no longer in the sale, that fact will be announced, and a call for another item within that group of 25 will be accepted. This procedure will continue until there are no more calls for item numbers within the group being considered. At that time, the next group of 25 item numbers will be offered. After all "A" items have been offered once, this procedure will be repeated for parcels beginning with "C".
After all "A" and "C" items have been offered once, the Treasurer will open up the auction for all available items to be offered on a first-asked, first-offered basis. A call for a specific item is considered a minimum bid for that item. Once the minimum bid is made, that item is auctioned to the highest bidder.
Item numbers beginning with "A" were not in last year's sale. "C" items have been identified by the Metropolitan Development Commission for redevelopment. "C" items that are sold have a maximum redemption period of 120 days rather than the one-year redemption that applies to "A" items.
A complete list of Tax Sale items available for sale will be available in three sources:
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Newspaper: Properties available for sale will be advertised in The Indianapolis Star and the Court & Commercial Record on the following Wednesdays:
September 03, 2008
September 10, 2008
September 17, 2008
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CD: The CD will be available in Microsoft Excel and can be purchased from the Treasurer's office on or after September 3rd at the cost of $20.00 per CD. The parcels that appear on the CD will be the same as those that appear in the first newspaper advertisement (September 3, 2008). Updated tax sale lists will not be available on CD.
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Web page: Beginning on or shortly after Wednesday, September 3rd, the Marion County Treasurer's Web page will have the most current list of properties available for sale. The list will be updated daily and will be in the same format as the newspaper listing and the CD. The list can be downloaded.
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An updated list of Tax Sale items still eligible for sale will be available from the Treasurer each day, beginning Wednesday, September 3rd, and each day thereafter until the Tax Sale ends on January 16, 2009. The list will include items available as of 8:00 a.m. on the morning it is printed. There will be a $3.00 charge per list to cover the cost of printing. Only the Tax Sale Item Number will appear on the list, so it will be necessary to have one of the original listings to be able to obtain other information about those unsold parcels.
On or before Friday, August 29, 2008, the Marion County Auditor will send a letter by Certified Mail to owners of all properties which at that time are eligible for the 2008 Marion County Tax Sale.
Any payment made to the Marion County Treasurer by an owner to withdraw a parcel from the sale or by a successful bidder at the sale must be paid by cash, by any Certified Check, by any Cashier's Check or by any Official Check that is issued by a financial institution. NO MONEY ORDERS, PERSONAL CHECKS, OR BUSINESS CHECKS WILL BE ACCEPTED. (The Treasurer will not accept more than $7,500.00 in cash from any one bidder, for the period of July 2 through the duration of the sale.)
The Tax Sale buyer's interest in the property is limited to a lien on the purchased property until: 1) the property is redeemed; 2) a Tax Deed is issued; or 3) six (6) months has elapsed after the expiration of the redemption period, whichever occurs first.
There is a one-year period following the sale of each "A" item (120 days for "C" items) during which the delinquent owner, occupant, or person with a substantial property interest of public record may "redeem the property", a term meaning to retain possession by paying all monies owed to the county plus required fees.
Redemption of property purchased in a Tax Sale results in the parcel remaining in the current owner's name.
If a parcel sold in the "A" sale is not redeemed prior to one year from the date of sale (120 days for "C" items), the Tax Sale buyer may present the Tax Certificate to the County Auditor and receive a Tax Deed to the property granting title to the property to the buyer or assignee of the buyer.
A person who wants to redeem a property should contact the Marion County Auditor, Room 841 of the City-County Building, to have an exact calculation of the redemption cost made. That amount must be paid to the County Auditor within one year of the date of sale of an "A" item (120 days for "C" items). The redemption amount will be equal to the minimum bid required by the Treasurer, plus a redemption fee calculated on the minimum bid paid by the successful bidder (percentages listed below), plus 10% per annum interest calculated on the difference between the minimum bid and the amount paid by the successful bidder (referred to as Tax Sale Overbid), plus any taxes, penalties and special assessments paid by the buyer subsequent to the date of sale, plus 10% per annum interest on those subsequent payments. (NOTE: The redeeming party does not have to repay the overbid amount, but they are required to pay the 10% per annum interest on the overbid amount.) The redemption fee will be calculated in two parts (three parts if taxes are paid subsequent to the Tax Sale):
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On the Minimum bid –
- 110% of the minimum bid if redeemed not more than 6 months after the date of sale;
- 115% of the minimum bid if redeemed more than 6 months but not more than one year after the date of sale.
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On the difference between the successful bid price and the minimum bid (referred to as Tax Sale Overbid) –
- 10% per annum interest from the date of payment to the date of redemption
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On any taxes and special assessments paid by the Tax Sale buyer subsequent to the sale –
- 10% per annum interest from the date of payment to the date of redemption
If, before redemption or the execution of a Tax Deed, it is found that the sale is invalid, the Tax Sale buyer is not entitled to a Tax Deed, but shall be entitled to a refund of the purchase price plus 6% per annum interest.
If, after the execution of a Tax Deed, it is found that the deed is invalid pursuant to I.C. 6-1.1-25-12, the Tax Sale buyer is entitled to a lien on the property in the amount of the purchase price, any taxes or special assessments paid subsequent to sale, and any amount due the Tax Sale buyer as an occupying claimant plus interest at 10% per annum.
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